BERKELEY, Calif. and VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- BriaCell Therapeutics Corp.
("BriaCell" or the "Company") (TSX-V:BCT) (OTCQB:BCTXF), an immuno-oncology focused biotechnology company with a proprietary
targeted immunotherapy technology, is pleased to announce a non-brokered private placement financing of 5,000,000 common shares of
the Company at a price of C$0.10 per common share for gross proceeds of C$500,000 (the “Offering”).
Recently-appointed Director of the Company, Mr. Jamieson Bondarenko (“Bondarenko”), will purchase the 5,000,000
common shares. Upon closing of the Offering, Bondarenko will have beneficial ownership of an aggregate of 23,070,500 common
shares, representing approximately 13.7% of BriaCell’s issued and outstanding common shares.
The Company will use the net proceeds from the Offering: (i) to finance the Company's Phase IIa combination
study of Bria-IMT™ with KEYTRUDA® (by Merck & Co., Inc.) in advanced breast cancer; (ii) to finance the Company's pursuit of other
research opportunities; and (iii) for working capital and general corporate purposes.
“In my view, owning a meaningful percentage of BriaCell’s equity while funding clinical work will align the
Company’s capital markets strategy with its drug development objectives,” remarked Bondarenko. “The importance of
accelerating this work is evidenced in efficacy data of BriaCell’s Phase I/IIa study of Bria-IMT™ and safety data of the Bria-IMT™-KEYTRUDA® combination study in advanced breast cancer. There exists a unique
opportunity to advance BriaCell’s remarkable achievements on behalf of breast cancer patients, survivors and deceased, and their
families.”
Dr. William Williams, BriaCell’s president & CEO, added, “I am delighted with the commitment Jamieson has shown
to BriaCell. He is a core influential shareholder and now a Director who believes in our mission and is working to advance
our science as we develop novel and effective ways to combat breast cancer.”
All securities issued under the Offering have a hold period expiring four months plus one day following the
closing of the Offering. The Offering is subject to final approval from the TSX Venture Exchange.
About BriaCell
BriaCell is an immuno-oncology focused biotechnology company developing targeted and safe approaches for the
management of cancer.
BriaCell is currently conducting a Phase I/IIa clinical trial of Bria-IMT™, its lead candidate, in a combination
study with pembrolizumab [KEYTRUDA®; manufactured by Merck & Co., Inc. (NYSE:MRK)]. The combination study is listed in
ClinicalTrials.gov as NCT03328026.
BriaCell is developing Bria-OTS™, an off-the-shelf personalized immunotherapy, for advanced breast cancer.
Bria-OTS™ immunotherapy treatments are personalized to match the patient without the need for personalized manufacturing.
Bria-OTS™, which is expected to cover over 90% of the patient population, is designed to produce a potent and selective immune
response against the cancer of each patient while eliminating the time, expense and complex manufacturing logistics associated with
other personalized immunotherapies.
For additional information on BriaCell, please visit website: http://www.BriaCell.com.
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within
the meaning of the applicable Canadian securities legislation which involves known and unknown risks relevant to the Company in
particular and to the biotechnology and pharmaceutical industries in general, uncertainties and other factors that may cause actual
events to differ materially from current expectation. These risks are more fully described in the Company's public filings
available at www.sedar.com.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of
the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
For further information, please contact:
BriaCell Therapeutics Corp.:
Farrah Dean
Manager, Corporate Development
Email: Farrah@BriaCell.com
Phone: 1-888-485-6340
